China’s CSRC broadens QFII coverage to futures
05 December 2012
News, China, Global
By Hui Ching-hoo
The China Securities Regulatory Commission (CSRC) is set to permit qualified foreign institutional investor (QFII) institutions to invest in equity futures index trading as part of a plan to further open up the domestic capital markets to foreign players.
Speaking at a futures forum in Shenzhen on December 3, CSRC Deputy Chairman Jiang Yang noted that the market watchdog will further loosen restrictions on the QFII program to allow participants to purchase stakes of 49% or less in domestic futures companies (firms that deal specifically in futures contracts). Meanwhile, it will push ahead with pilot schemes allowing Mainland futures companies to develop offshore futures trading services, according to the Shanghai Securities Journal.
The CSRC has been moving to widen the investment scope of the QFII program. In July, the Measures on Administration of Domestic Securities Investments of Qualified Foreign Institutional Investors became effective, expanding QFII investment coverage to interbank bonds and fixed income products.
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